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President Alcazar announced an increase in the labor subsidy given to firms to try to boost employment and GDP. The subsidies received by a firm are in proportion to the number of workers it employs, that is equal to s N, where s is the subsidy rate and N the number of workers employed. The government pays subsidies to firms, whose post-subsidy profits are distributed to households as income. However, the subsidies are financed by a lump-sum tax on households. The lump-sum tax is such that the government budget is balanced. Show that, for any given level of real wages, the net direct effect of this policy, subsidies and corresponding lump-sum taxes, on household’s disposable income is negative.
What type of cost has NO impact on determining the profit-maximizing sales quantity? To earn the greatest possible profit, a firm must: In which situation might a company NOT want to maximize profit?
A? person's income is ?$300?, the price of a video is ?$55?, and the price of deluxe pizza is ?$15. At?equilibrium, the marginal rate of substitution is equal to the slope of the price consumption curve. the consumer is buying three times more videos..
Explain two distinct factors through which geography can affect a country's income and prosperity. For both of these factors described in part A, discuss whether you think the effect of these on a country's income is fixed over time or whether the ef..
In your own words, describe the series of events that led to the “Great Recession” over the 2007-2009 period. Hint: In the vocabulary of Chapter 9, an asset price bubble in what sector of the economy started the the chain of events that ultimately le..
What is the impact on residential real estate market after the Fed stopped QE3 (buying bonds monthly from banks) in 2014? Please state the shift on either demand curve or supply curve. If a price ceiling on real estate agency commission is set at 1% ..
A project was planned using PERT with three time estimates. Times expected completion times of the project was determined to be 36 weeks. The variance of critical path is 25. What is the probability that the project will be finished in 32 weeks or le..
the number of hours per week supplied to a particular market by three individuals at various wage rates. Compute the total hours per week supplied to the market.
Create a table where Q equals 0, 10, 20, 22.5, 30, 40 50 and 55. In the table include Quantity, Price, Total Revenue, Marginal Revenue (where MR equals the change in TR divided by the change in Q in the table), MR where MR=a-2bQ (include an explanati..
A firm starts production of a new product, and forecasts production and sales during the time periods (t1,t2,t3)=(1,2,3). The demand during time period t is estimated to be equal to t(4-t)/p^2 where p is a price of a product the firm will have to cho..
Do some research on the Great Depression and the New Deal. Also look up Keynesian economics. Based on your research, could the lessons learned from the New Deal and Keynesian economics be applied to today's slow economy? What was the New Deal? What i..
Each of the following is considered a disadvantage of federalism for democracy EXCEPT
NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?
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